Author: Busman

Japanese automaker Nissan says it has determined that its chairman, Carlos Ghosn, falsified reports about his compensation "over many years." The company said its internal investigation also found Ghosn had used company assets for personal purposes. Japanese media are reporting Monday that Ghosn is being questioned by Tokyo prosecutors on allegations that he underreported his income and that he will likely be arrested. Ghosn is suspected of failing to report hundreds of millions of dollars in income. Nissan says Ghosn will be dismissed from the company. The Ashai newspaper reported that prosecutors have raided Nissan's headquarters in Yokohama. The Brazilian-born Ghosn, who is of Lebanese descent and a French citizen, was the rare foreign top executive in Japan. Ghosn was sent to Nissan in the late 1990s by Renault SA…

The United States and China offered competing views to regional leaders at the Asia Pacific Economic Cooperation (APEC) meetings in Papua New Guinea, trading sharp words over trade, investment, and regional security.  Washington said it can provide a better option for regional allies under is “Free and Open Indo-Pacific” strategy.  as VOA's State Department correspondent Nike Ching reports, the APEC gathering ended without a formal leaders' statement. ...

Federal Reserve policymakers on Friday signaled further interest rate  increases ahead, but raised relatively muted concerns over a potential global  slowdown that has markets betting heavily that the Fed's rate hike cycle will soon peter out. The widening chasm between market expectations and the rate path the Fed laid out just two months ago underscores the biggest question in front of U.S. central bankers: How much weight to give a growing number of potential red flags, even as U.S. economic growth continues to push down unemployment and create new jobs? "We are at a point now where we really need to be especially data dependent," Richard Clarida, the newly appointed vice chair of the Federal Reserve, said in a CNBC interview. "I think certainly where the economy is today, and…

Now that South Africa's highest court has relaxed the nation's laws on marijuana, local entrepreneurs are trying to cash in on the popular herb. Among the latest entries to the market: several highly popular cannabis-laced alcohol products, which deliver the unique taste, though without the signature high. Marijuana activists say this could just be the beginning and that the famous plant could do much more for the national economy. VOA's Anita Powell reports from Johannesburg. ...

Place names in Arlington County have never been a simple matter. A major fight broke out when National Airport was named for Ronald Reagan in 1998. A fight continues over whether to name a park next to the airport for Nancy Reagan. And in the 1920s, the Postal Service refused to establish a post office in Arlington because the street names were so confusing and haphazard. So it is fitting that as Arlington officials celebrated Amazon’s decision to locate a new headquarters in the area, there was a bit of confusion over the place name. Amazon announced Tuesday that it was coming to National Landing, a place people had not heard of because it doesn’t exist. Economic development officials who were wooing the online retailing giant came up with the…

Climate change, steel and migration have emerged as sticking points in the final communique that world leaders will issue at the end of the Group of 20 summit in Argentina later this month, an Argentine government official said on Thursday. Those issues were the “most complicated” areas of discussion, said Argentina's Pedro Villagra Delgado, the lead organizer, or “sherpa,” for the summit of leaders from key industrialized and developing economies.  But he told a press briefing he was optimistic these issues would be resolved in time. The G20 communique is a non-binding agreement on key international policy issues and will be presented at the conclusion of the two-day summit, which begins on Nov. 30. Climate goals concern United States Villagra Delgado said the United States was resistant to including language…

Ukrainian Prime Minister Volodymyr Groysman expects to get new loans from the International Monetary Fund as early as December, once parliament passes a budget of stability that refrains from making pre-election populist moves, he said Thursday. Securing IMF assistance will also unlock loans from the World Bank and the European Union. Groysman also said Ukraine was in negotiations with Washington for a new loan guarantee for sovereign debt. Groysman negotiated a new deal with the IMF last month aimed at keeping finances on an even keel during a choppy election period next year. The new loans are contingent on his steering an IMF-compliant budget through parliament. "This budget is a budget of stability and continuation of reforms," Groysman said in an interview with Reuters. "This is fully consistent with our IMF program." "Yes. We are counting on a tranche in December," he added, when asked about when IMF loans were expected,…

Business leaders expressed growing alarm Thursday as a draft Brexit agreement seen as the only chance of preserving some stability in U.K.-EU trading threatened to unravel, sending stock prices and the pound plunging. Just 12 hours after British Prime Minister Theresa May announced that her cabinet had agreed to the terms of the draft agreement, Brexit minister Dominic Raab and work and pensions minister Esther McVey quit, saying they could not support it. Their departures and those of other, junior ministers, revived the specter for business of Britain leaving the European Union without a deal next March, and sent shares in British housebuilders, retailers and banks tumbling. "The political situation remains uncertain," German carmaker BMW said in a statement. "We must therefore continue to prepare for the worst-case scenario, which…